Merchant Discount Rate Subject: Economy Section: Monetary policy Context: In a discussion paper released on Wednesday, the Reserve Bank of India (RBI) asked stakeholders if merchant discount rate (MDR)should be brought back for Unified Payments Interface (UPI) transactions. Concept: Merchant Discount Rate: MDR is the cost paid by a merchant to a bank […]

    MERCHANT DISCOUNT RATE Subject : Economics Context : In a push to expand their merchant networks, fintech intermediaries have come up with an innovative settlement scheme by which they waive the merchant discount rate (MDR) on offline card transactions. Concept : This allows offline merchants to opt for a delayed settlement of a […]